Organizations Filed Purposes:
THE CORPORATION WAS FORMED ON OCTOBER 24, 2005 UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PURPOSE OF THE CORPORATION IS TO CREATE AND PRESERVE AFFORDABLE HOUSING THROUGH THE INVESTMENT, CONSTRUCTION OR ACQUISITION AND REHABILITATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR VERY LOW, LOW, AND MODERATE INCOME TENANTS. IN ADDITION, THE CORPORATION INVESTED IN TWO AFFORDABLE HOUSING COMMUNITIES WHOSE PROPERTY ALSO QUALIFIED FOR HISTORIC REHABILITATION TAX CREDITS IN ACCORDANCE WITH SECTION 47 OF THE IRC.
THE CORPORATION WAS FORMED ON OCTOBER 24, 2005 UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PURPOSE OF THE CORPORATION IS TO CREATE AND PRESERVE AFFORDABLE HOUSING THROUGH THE INVESTMENT, CONSTRUCTION OR ACQUISITION AND REHABILITATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR VERY LOW, LOW, AND MODERATE INCOME TENANTS. IN ADDITION, THE CORPORATION INVESTED IN TWO AFFORDABLE HOUSING COMMUNITIES WHOSE PROPERTY ALSO QUALIFIED FOR HISTORIC REHABILITATION TAX CREDITS IN ACCORDANCE WITH SECTION 47 OF THE IRC.AS OF DECEMBER 31, 2019, THE CORPORATION HAS A 100% OWNERSHIP INTEREST IN EIGHT ENTITIES THAT OWN AND OPERATE AFFORDABLE HOUSING COMMUNITIES, AND A 51.49% INTESTEST OF ELKHORN SEDGEMEADOW I LIMITED PARTNERSHIP. FURTHER DETAILS ON ENTITIES OWNED: - PHP FOX HAVEN LLC ("FOX HAVEN") OWNS A 48 UNIT APARTMENT COMMUNITY LOCATED IN RALEIGH, NORTH CAROLINA OPERATING AS FOX HAVEN APARTMENTS.- QNP GATEWAY VILLAGE LLC ("GATEWAY VILLAGE") OWNS A 64 UNIT APARTMENT COMMUNITY LOCATED IN HILLSBOROUGH, NORTH CAROLINA OPERATING AS GATEWAY VILLAGE APARTMENTS. GATEWAY VILLAGE SOLD ON FEBRUARY 20, 2019. - PHP HERITAGE HOUSE LIMITED PARTNERSHIP ("HERITAGE HOUSE") OWNS AN 80 UNIT APARTMENT COMMUNITY LOCATED IN LEWISBURG, PENNSYLVANIA OPERATING AS HERITAGE HOUSE APARTMENTS.- PHP LEWIS VILLAGE LLC ("LEWIS VILLAGE") OWNS A 37 UNIT APARTMENT COMMUNITY LOCATED IN ELIZABETHTOWN, NORTH CAROLINA OPERATING AS LEWIS VILLAGE APARTMENTS.- QNP LYNNHAVEN LLC ("LYNNHAVEN") OWNS A 75 UNIT APARTMENT COMMUNITY LOCATED IN DURHAM, NORTH CAROLINA OPERATING AS LYNNHAVEN APARTMENTS. LYNNHAVEN SOLD ON FEBRUARY 20, 2019.- PHP NORTHWOODS LLC ("NORTHWOODS") OWNS A 50 UNIT APARTMENT COMPLEX LOCATED IN BURGAW, NORTH CAROLINA OPERATING AS NORTHWOODS APARTMENTS.- PHP PINEWOOD LLC ("PINEWOOD") OWNS A 60 UNIT APARTMENT COMPLEX LOCATED IN DUNN, NORTH CAROLINA OPERATING AS PINEWOOD APARTMENTS.- QNP PRINCE COURT LLC ("PRINCE COURT") OWNED A 30 UNIT APARTMENT COMPLEX LOCATED IN PRINCEVILLE, NORTH CAROLINA OPERATING AS PRINCE COURT APARTMENTS.- ELKHORN SEDGEMEADOW I LIMITED PARTNERSHIP ("SEDGEMEADOW") OWNS A 48 UNIT APARTMENT COMPLEX LOCATED IN ELKHORN, WISCONSIN OPERATING AS SEDGEMEADOW APARTMENTS. SEDGEMEADOW WAS ACQUIRED ON MARCH 13, 2019.- PHP ST. ANDREW'S HOMES LLC ("ST. ANDREW'S") OWNS A 34 UNIT APARTMENT COMPLEX LOCATED IN CHARLOTTE, NORTH CAROLINA OPERATING AS ST. ANDREW'S HOMES APARTMENTS.- PHP WALNUT WOODS LLC ("WALNUT WOODS") OWNS A 36 UNIT APARTMENT COMPLEX LOCATED IN RALEIGH, NORTH CAROLINA OPERATING AS WALNUT WOODS APARTMENTS.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Robert S Diedrich | PRESIDENT | 40 | $258,375 |
| Michael S Diedrich | TREASURER | 40 | $117,562 |
| Daniel Angeli | DIRECTOR | 0.2 | $0 |
| Michael Jepsen | DIRECTOR | 0.2 | $0 |
| Michael Mulligan | SECRETARY | 0.2 | $0 |
| Stephen Buffa | VICE PRESIDENT | 0.2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202023179349303047_public.xml